Bill has a utility function over food and gasoline with the equation U = x 2 y,

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Bill has a utility function over food and gasoline with the equation U = x2y, where x measures the quantity of food consumed and y measures the quantity of gasoline. Show that a consumer with this utility function believes that more is better for each good.

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Microeconomics

ISBN: 9781119554844

6th Edition

Authors: David Besanko, Ronald Braeutigam

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